In the ten years since its launch, Dogecoin — the original memecoin — has seen significant growth. Since its low in 2015, DOGE has increased by about 141,000%, according to statistics from CoinGecko. That hasn’t stopped DOGE fans and investors from chasing higher prices, especially $1.
The journey to the 1 USD milestone will not be easy for DOGE. Reaching $1 would require a price increase of about 733% from current levels. Let’s look at three things that could help DOGE reach its goal of 1 USD.
The 3 most important things that can take Dogecoin to 1 USD
Accepted over X payments
Elon Musk is not only one of the richest people in the world but also one of the biggest supporters of DOGE. Musk’s electric car company Tesla has accepted DOGE as a means of payment for its goods. Musk also said the company may enable DOGE payments for its cars in the future.
Musk’s X social media platform will launch soon feature pay . Many hope that memecoin will also be a part of this feature. If X enables Dogecoin payments, it could lead to a massive price increase.
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Adoption is the key to higher prices. If Musk’s X platform allows DOGE payments, more people will start using the original memecoin as a form of exchange. This will help the asset’s price rise significantly.
Being the first memecoin, DOGE had the advantage of being early. Millions of people around the world were familiar with the asset’s logo, making it easy for the project to sell it.
Market Sentiment/Rush
A positive market environment will also help Dogecoin reach new highs. If we enter another bull run, such as 2021, we could see DOGE reach new all-time highs.
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